EANS-Adhoc: init innovation in traffic systems AG / init reports revenues increase and record amount of incoming orders in 2012dividend to remain at EUR 0.80

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annual result/preliminary figures 06.03.2013

Karlsruhe, 6 March, 2013. Following the strong fourth quarter of 2012, init innovation in traffic systems AG continues to grow. According to the available preliminary figures, the group revenues in the financial year ended increased 9.7 percent to EUR 97.3m (2011: EUR 88.7m). At the same time, init's incoming orders amounted to a record figure of EUR 152.2m (2011: EUR 81.4m). The order backlog as of the end of the year amounted to EUR 176 million, 50 percent more than the prior-year value. In terms of the revenues, init is thus approaching the tenth successive year of growth. Though init reached its revenues growth target in 2012, the earnings before interest and taxes totaled EUR 17.3m, slightly less than planned (EUR 19m) and the prior year (2011: EUR 20.4m). This was mainly due to production start-up costs of the newly established US subsidiary SQM (Superior Quality Manufacturing LLC), a loss by the subsidiary CarMedialab and a value adjustment on receivables in Dubai. Compared to the prior year, it must be taken into consideration that the earnings in 2011 included one-time special effects amounting to EUR 2.8m. The lower EBIT and a significantly higher tax rate are also reflected in the consolidated net profit, which reached EUR 10.9m in 2012 (2011: EUR 15.1m). The earnings per share thus dropped to EUR 1.11 (2011: EUR 1.51). Based on the high order backlog and the growth potential in the markets newly entered in 2012, the Managing Board expects revenues to grow to more than EUR 105m and an increase of earnings before interest and taxes (EBIT) to EUR 18m. Due to this perspective and to excellent liquidity, the Managing Board of init innovation in traffic systems AG (ISIN DE 0005759807) decided today to submit a proposal for the appropriation of earnings to the Supervisory Board for submission to the Annual General Meeting, which recommends to distribute a consistently high dividend of EUR 0.80 per share entitled to dividend (prior year: EUR 0.80). This resolution is subject to the approval of the annual financial statements for the financial year 2012. init innovation in traffic systems AG will publish the complete annual report for 2012 on 28 March 2013 at the press and analyst conference.

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   March 06, 2013 04:44 ET (09:44 GMT)- - 04 44 AM EST 03-06-13